Nicholas Carr, an American writer in his book ‘Does IT Matter’ mentioned that widespread availability and cost-effective technology make it more of a utility like water or electricity. While looking to Artificial intelligence, it can be seen that Nicholas was true to some extent. Earlier adoption phase of AI is ending and now it is moving to an ‘early majority’ phase. AI-powered organizations have to take good effort to keep with the pace and to have an edge over their competitors.
About 74 of the 2727 executives responded to a survey that AI will be integrated into all of their operations within three years. Now organizations find it easy to adopt AI on their operations. Data science and Machine learning platforms are developing and AI optimized hardware is now providing greater computing power and better results. Now it is becoming very easier to train algorithms and tools and developing prototype models.
One of the major challenges facing by every organizations is leveraging AI in innovative ways to make use of its maximum advantages. But most of the application of AI is still confined in the boundary of IT systems.
26% of the companies participated in the survey are seasoned AI adopters and they have undergone huge AI deployments, have a high level of Artificial Intelligence expertise across the board. Among this group,45% have established a significant lead over their competitors, which means that rest of the 55% still not able to achieve a competitive advantage. The major reason behind it is that the application of AI in these organizations still enclosed in IT departments and functions.
Most of the organizations use AI for IT applications like guiding technical work, analysing IT infrastructure, cybersecurity etc. Business functions like Marketing, Human resources, Legal services are still at the bottom of the priority list in AI-driven applications. Firms which innovate in every business function can see the opportunities of AI and they achieve more market share. Organizations have to upskill their employees in implementing AI-driven applications, should have a creative approach and must expand the circle. The scope of AI is beyond IT system and organizations should be ready to take the risk and go beyond their limits.
